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Archive for the Bitcoin Category

By coindale on Tuesday, February 25th, 2014 | Comments Off on Mt. Gox Bitcoin exchange reportedly robbed and in trouble

Two major publications are reporting significant news about the Mt. Gox Bitcoin exchange this morning. First, Wired is reporting that Mt. Gox has gone offline amid allegations of a $350MM hack. According to the story in Wired: “Mt. Gox, once the world’s largest bitcoin exchange, has gone offline, apparently after losing hundreds of millions of […]

By coindale on Wednesday, February 12th, 2014 | Comments Off on Citigroup advisor shares thoughts on Bitcoin

Irving Wladawsky-Berger, Citigroup strategic advisor and former researcher for IBM, has written a very well-reasoned piece on his view of Bitcoin. In his post, Reflections on Bitcoin, Wladawsky-Berger comes to three primary conclusions. He says: “So, after reading and reflecting on these various articles, here is how I would now summarize my views on Bitcoin: The […]

By coindale on Monday, January 27th, 2014 | Comments Off on New Bitcoin Ebook Available: Conversational Bitcoin

Have you been hearing a lot about Bitcoin, but still not entirely sure what it is? This easy-to-read ebook answers the following questions: What is Bitcoin? Why should I care about Bitcoin? How do bitcoins get exchanged? Are bitcoins money? Why should a business accept bitcoin? Why should I personally use bitcoins? What are the […]

By coindale on Friday, January 10th, 2014 | Comments Off on Overstock.com begins accepting bitcoins for purchases

Today Overstock.com jumped into the Bitcoin pool and began accepting bitcoins as a payment methods for purchases. On December 2st, Overstock’s CEO Patirck Byrne had told TechCrunch that Overstock was considering accepting Bitcoin sometime in 2014. Now, just nine days into the new year, Overstock has gone live with bitcoins as a purchase option. […]

By coindale on Saturday, January 4th, 2014 | Comments Off on Zynga begins Bitcoin payment trial with BitPay

image: TechCrunch According to TechCrunch, Zynga is running what they are calling a “test” of Bitcoin transactions to purchase goods in their web games of FarmVille 2, CastleVille, ChefVille, CoasterVille, Hidden Chronicles, Hidden Shadows and CityVille. A Zynga representative, posting on Reddit, states: “We wanted to share with the r/bitcoin community that Zynga Inc. (NASDAQ: ZNGA) […]

By coindale on Friday, December 20th, 2013 | Comments Off on Former head of US Mint shares his thoughts on Bitcoin

Ed Moy, who was head of the US Mint from 2006-2011, shares his thoughts on digital currencies and Bitcoin in particular via Money News. Moy says: “The next five to 10 years will be critical. But like how the mobile devices, Internet, cable, television, movies, musicals, operas and symphonies all have found their niches, the […]

By coindale on Thursday, December 19th, 2013 | Comments Off on For Bitcoin to hit the mainstream, it needs to address its gender issue

image: freshphoto Bitcoin has a woman problem that, unless solved, will keep it from hitting the mainstream as a medium of exchange, at least in the US. The following conversation is primarily aimed at the particular challenge Bitcoin faces in getting to mainstream adoption, and is not focused on the speculative rises and falls that […]

By coindale on Thursday, December 12th, 2013 | Comments Off on Andreessen Horowitz invests $25 million in Coinbase

Things just got very interesting in the bitcoin space. Andreessen Horowitz, never a firm to shy away from large bets, just invested $25MM into Coinbase. It looks like other current investors including Union Square Ventures and Ribbit Capital were also a part of the Series B raise. The story from AllThingsD: “If you’re a bitcoin […]

Many things follow a “power law” distribution (sometimes also called the Pareto principle or 80/20 rule), where a small fraction of the available resources in a system are held by relatively few members of that system. In particular, power laws seem to apply to the concentration of wealth. While this is speculative, if there is […]